California Resources Corporation Announces Divestiture of Uinta Basin Assets

California Resources Corporation signed an agreement to divest its Uinta Basin assets to an undisclosed buyer for approximately $90 million in cash, subject to customary purchase price adjustments. Net proceeds are earmarked for shareholder returns and other corporate purposes, and CRC says the sale helps offset the purchase price of its recent midstream transaction. The deal has an effective date of July 1, 2026, with closing expected by year end pending certain third-party consents; CRC plans to provide updated financial and operating guidance after closing.

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